Washington -LRB- CNN -RRB- -- The perceptions Americans have of how a college degree will affect their average paycheck over a lifetime appear to be close to correct .

A recent study called `` Is College Worth It ? '' by the Pew Research Center found that those who have a college degree believed that they make about $ 20,000 more per year than those who did n't attain a college degree . And vice versa , those who did n't get a college degree felt that they earned about $ 20,000 less per year than those who did .

Census data from 2010 shows that the median gap in earnings between those with only a high school diploma and those who have a college degree is $ 19,550 .

`` We find that for the typical person there 's about a $ 550,000 advantage to going to college in lifetime earnings , '' said Paul Taylor , one of the study 's authors .

The study points out that the student 's field of study , among other factors , can also influence income . For example , a college graduate can choose a career that does n't come with a high salary and some people with just a high school diploma can earn a lot of money .

President Barack Obama clearly believes that a college degree is worth it for most Americans . He has set a goal of having the largest number of college graduates in the United States as compared to other countries by the year 2020 .

The survey found that a majority of college presidents do n't think it likely that we will make that goal . Just under a third of the college presidents thought it `` somewhat likely '' that the United States will meet the goal and only 3 % thought it was `` very likely . ''

`` People are clearly struggling with the high costs of college , '' Taylor said .

Three-quarters of those surveyed said college is no longer affordable for most Americans , according to the study . Yet , for those who are college graduates , 86 % said college was a good investment for them personally .

Maria 's big dream ? Stanford University

Although the study found that most adults believe a college education is needed to succeed in the world , they listed a good work ethic and knowing how to get along with people as more important to success .

`` You have a public that understands that college is important , '' Taylor said . `` But at the end of the day , if you push them and ask is it college or character , people place more importance on character than a college diploma . ''

As compared to those who only graduated high school , college graduates did tend to be more satisfied with their work life and they found their work to be more interesting .

For those who did not receive a college degree , 30 % said they had wanted to apply for a job , but had not because the job required a college degree . Thirteen percent had been turned down for a job because they did not have a college degree .

@highlight

President Obama wants U.S. to have most college grads in world by 2020

@highlight

Majority of college presidents do n't think the goal will be met

@highlight

Most people believe college is no longer affordable for most Americans